June 23 (Reuters) -Gold prices were en route to their worst week since early February on Friday as the dollar strengthened after U.S. Federal Reserve Chief Jerome Powell reiterated that more interest rate hikes were in the offing.
Spot gold was up 0.3% at $1,919.06 per ounce by 1130 GMT, yet stayed close to a three-month low hit earlier in the session. Prices are down 1.9% for the week...[LINK]
Good morning. The precious metals are higher in early U.S. trading.
U.S. calendar features Flash PMIs.
FedSpeak due from Bullard, Williams & Mester.
While the ebb and flow of action in the US #dollar has been buffeting the #gold and #silver trade this week, minimal weakness in the dollar this morning has not provided visible support.
Clearly, reiterated hawkish commentary from the US Federal Reserve Chairman to a US congressional committee prompted the initial washout in gold prices yesterday.
We should note that the Fed chairman yesterday indicated the Fed was sticking with its 2% inflation target which probably increases the likelihood of more than two 25 basis point rate hikes this year...[MORE]
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June 22 (Reuters) - Gold fell on Thursday to hold close to a three-month low hit a day earlier after U.S. Federal Reserve Chair Jerome Powell reiterated that more interest rate hikes were likely to tame inflation.
Spot gold was down 0.3% to $1,927.38 per ounce by 1040 GMT, a day after having hitting its lowest since March 17. U.S. gold futures fell 0.4% to $1,937.60...[LINK]
Good morning. The precious metals are lower in early U.S. trading.
U.S. calendar features Current Account, Initial Jobless Claims, Chicago Fed Index, Leading Indicators, Existing Home Sales, EIA Data.
FedSpeak due from Powell, Bowman, Mester, & Barkin.
June 21 (Reuters) - Gold prices edged lower on the dollar’s uptick on Wednesday as investors watched for interest rate cues from U.S. Federal Reserve Chair Jerome Powell’s congressional testimony.
Spot gold fell 0.2% to $1,932.86 per ounce, trading in an $8 range as of 0915 GMT. U.S. gold futures were also down 0.2% to $1,944.20...[LINK]
Good morning. The precious metals are lower in early U.S. trading.
U.S. calendar features #FedSpeak from Powell & Goolsbee.
From a technical perspective, we give the edge to the bear camp with August #gold near the middle of the last month's consolidation zone and probing lower in a fashion that could target $1950.
From a fundamental perspective, the bear camp also has an edge with the #dollar initially making a 3-day high and extending the recovery off last week's spike-down move.
Even investors have turned cool toward gold with Friday presenting a 15th straight day of outflows from gold ETF holdings...[MORE]
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June 20 (Reuters) - Gold edged up on Tuesday as the dollar eased but lacked clear momentum as traders positioned for U.S. Federal Reserve Chair Jerome Powell’s testimony later this week for more clues on the interest rate path.
Spot gold rose 0.2% to $1,953.99 per ounce by 12:25 GMT. U.S. gold futures fell 0.3% to $1,966.00...[LINK]
Good morning. The precious metals are mostly lower in early U.S. trading.
U.S. calendar features Housing Starts.
FedSpeak due from Bullard, Williams, & Barr.